F71PN - Pensions and Other Benefits
Course leader(s):
Aims
The aim is to prepare students for a career as a pensions actuary. It should exempt them from the IFoA exam SP4.
Syllabus
1. Valuations (1.1 For occupational schemes and governments: regular and discontinuance.)
2. DC schemes (2.1 Actuarial involvement, member benefits, risks)
3. Investment (3.1 Types of investments, risks, returns)
4. Reinsurance (4.1 Reasons, methods of reducing risks.)
5. Analysis of experience (5.1 Surpluses and deficits, reasons, applications.)
Learning outcomes
By the end of the course, students should be able to do the following:
- explore the use of actuarial models in decision making purposes within state pensions.
- apply actuarial methods and techniques to manage finances within funding pension plans.
- appraise how to determine values for assets, future benefits and future contributions when carrying out a valuation
- examine the pension provision in the case of scheme discontinuance.
- analyse the asset-liability management and investment strategies for pension plans.
- evaluate the use of re-insurance in pension management.
- investigate the actual experience of a pension scheme in terms of risk management.
- communicate the challenges and potential solutions arising from particular issues within the pension sector.
Further details
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SCQF Level: 11
Credits: 15
